Wage growth has fallen back to its lowest level for more than three years as firms continue to clamp down on hiring, according to official figures.The Office for National Statistics (ONS) said regular wage growth, excluding bonuses, dropped to 4.8% in the three months to July, down from 5% in the previous three months and the lowest since May 2022.

Wage growth has fallen back to its lowest level for more than three years as firms continue to clamp down on hiring, according to official figures.The Office for National Statistics (ONS) said regular wage growth, excluding bonuses, dropped to 4.8% in the three months to July, down from 5% in the previous three months and the lowest since May 2022.